Will an increase in bitcoin price affect the gambling industry

Twinkledoe

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Quote from: Sithara007 on May 04, 2019, 01:19:47 AM

An increase in the Bitcoin exchange rates can have both positive and negative impact upon the gambling industry. First of all, the net worth of the Bitcoin holders will increase and this can result in more disposable income for the gamblers. At the same time, increasing prices may discourage Bitcoin users from spending their coins (for shopping, gambling.etc).

But even without the bitcoin's price increase, we are seeing online gambling sites being launched everyday - dice sites, racing sites, sportsbetting site, full-fledged online casinos, you name it. The online gambling community is growing stronger because of the numerous benefits that they can have via playing on these online casinos.

btcmegastar

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Quote from: coin-investor on March 19, 2019, 01:18:46 AM

Quote from: kingpin4321 on March 09, 2019, 04:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

It will affect because the price is high there will be high demand and people will try their luck to gambling to get as many satoshis as possible and I think so many gambling sites are being launched because of the preparation for the coming bull run.

Still, we are not in the situation of the bull run but with the increase in the price of Bitcoin definitely, many gamblers will show more interest towards the gambling because if they have the chance to win through gambling then definitely it will really help them to make a decent profit.

Sithara007

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An increase in the Bitcoin exchange rates can have both positive and negative impact upon the gambling industry. First of all, the net worth of the Bitcoin holders will increase and this can result in more disposable income for the gamblers. At the same time, increasing prices may discourage Bitcoin users from spending their coins (for shopping, gambling.etc).

JohnBitCo

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Quote from: MFahad on March 19, 2019, 12:59:50 AM

Quote from: kingpin4321 on March 09, 2019, 04:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

May be not, it give a huge affect on gambling industry. When bitcoin price was up then still gambling industry build and now still gambling industry making money and still bitcoin price down. So properly we can say No.
Usually gamblers see their bankroll and not give attention to bitcoin price too much. I am gambler, i play gambling nowadays behalf of my bankroll and i played gambling when bitcoin price up because of my bankroll.

I think that increase in bitcoin price will have a big impact on gambling industry also. Since the price of bitcoin will be high, people will gamble with less satoshi and few of them may not prefer to gamble with bitcoin and might use eth or other coins for gambling.

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Quote from: Botnake on March 09, 2019, 11:19:39 PM

Definitely it will affect, but on the positive manner.

Price increase will make investors profitable and when they are profitable they would love to gamble with their spare money.
Also, I believe that gambling sites are not only focus on their gambling business alone, they are also investors at the same time.

I agree with if Bitcoin price increase, probably gamblers will have a better amount of money and the prizes will be greater and it will bring more new interested player since when you buy crypto it will be cheaper but with corresponding expensive amount will come to life again. There's a lot of benefits when Bitcoin will start to skyrocket again but recently I start playing already in casino with proper moderation since Bitcoin still low at this point but still I can manage to enjoy their various games such as Poker, black jack, slots, roulette and many more as well as the great deal of rewards for those first timer depositor to their site.

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Quote from: Naida_BR on March 14, 2019, 06:29:07 AM

Quote from: kingpin4321 on March 09, 2019, 04:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

I am totally sure that the fluctuations of bitcoin prices have an impact on the gambling industry.
In my opinion, when they price goes down (and the whole market cap), bitcoin becomes a cheaper coin and the volumes on the casinos are getting increased because people play with more bitcoin portions that before.

I believe this would even bring about more new interested players. Because, for those who have not been interested participating, at this point they could feel a bit interested in participating due to cheaper prices of all cryptos and especially cheaper bitcoins and to those who have been in the game obviously when there is a drop in the price of bitcoin, the volumes of casinos will definitely be on the rise as players would now be gaming with higher portions of bitcoin. I think this is just a simple logic.

At the same time, I am not seeing any gambler is staying away from gambling due to higher bitcoin prices in late 2017 and in early 2018. They were still preferring to go gambling with high value bitcoins. In my view, increase in bitcoin prices may not give big impact but downfall in bitcoin prices will make them to gamble more.

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Quote from: coin-investor on March 19, 2019, 01:18:46 AM

Quote from: kingpin4321 on March 09, 2019, 04:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

It will affect because the price is high there will be high demand and people will try their luck to gambling to get as many satoshis as possible and I think so many gambling sites are being launched because of the preparation for the coming bull run.

It could be the reason why we see so many new gambling websites. Maybe people are tired to wait for the bull run, so they distract their mind not to have a little fun. And it affects to the gambling website itself because many new people come to their site and try to play the games. But soon, when the bull market comes, people will leave the gambling websites for a while because they will focus on the market to make a profit.

hd49728

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Not exactly!
Gambling industry has been built up for years, not when bitcoin moves up.
In reality, when bitcoin, or crypto market in general move upwards strongly, more new gambling sites launched.
However, most of them will turn to dead one, as same as what we saw with new projects launched every hour, everyday when bitcoin hit nearly $20000.

Quote from: MFahad on March 19, 2019, 12:59:50 AM

May be not, it give a huge affect on gambling industry. When bitcoin price was up then still gambling industry build and now still gambling industry making money and still bitcoin price down. So properly we can say No.

coin-investor

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Quote from: kingpin4321 on March 09, 2019, 04:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

It will affect because the price is high there will be high demand and people will try their luck to gambling to get as many satoshis as possible and I think so many gambling sites are being launched because of the preparation for the coming bull run.

MFahad

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Quote from: kingpin4321 on March 09, 2019, 04:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

May be not, it give a huge affect on gambling industry. When bitcoin price was up then still gambling industry build and now still gambling industry making money and still bitcoin price down. So properly we can say No.
Usually gamblers see their bankroll and not give attention to bitcoin price too much. I am gambler, i play gambling nowadays behalf of my bankroll and i played gambling when bitcoin price up because of my bankroll.

hd49728

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Bitcoin increases will do have effects on gambling industry, in my opinion:
Some reasons forced me to such thoughts:
- Bitcoin increases will help investors earn profits or reduce their losses.
- It brings more optimistic feelings, better moods for investors.
- Investors might have more money to entertain, and gambling sites are one of places they can use money for entertainments.

raven7886

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Quote from: whirlcoin on March 14, 2019, 09:47:37 PM

Quote from: kingpin4321 on March 09, 2019, 04:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

Bitcoin gambling is more popular nowadays so the people are trying to put larger investment and get it back so it will be very good thing for gambling also to develop very easily and more stable also happen when the Bitcoin was developed.

I think Bitcoin gambling has now become more popular because smart gamblers are taking advantage of the current market cap by involving immensely in Bitcoin gambling because they are believing and are of the full knowledge that definitely Bitcoin will get back to its feet sooner and there will be good increase in their bankroll.

I think is really very right because any sudden increase in BTC would bring about the rise of gamer's bankrolls. So, this period is quite encouraging for Bitcoin gambling. I do see lots of new gambling sites and their intensive promotions to this community. I believe they are all targeting bouncing back phase of bitcoins, it means everyone is looking for making use of current situations of bitcoin markets to get the maximum benefits when market will be bouncing back.

guoyu78

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Quote from: radjie on March 12, 2019, 05:27:28 PM

no, the main factor that can affect the growth of bitcoin is only a group of people who trade. as we know, bitcoin price movements tend to decline more often and many people are turning to get quick profits with gambling, although the risk is very large in gambling, but for most people who like to gamble, gambling is an alternative to generating faster profits if we have skill and courage in doing so compared to short-term trading that can generate profits every day

Not really in the short run but can really be in the long run. The man who would ultimately get the Bitcoins would be profitable in the long run. If the price of Bitcoin is rising, it would not really affect the activities that normally happen in the gambling industry for the money that you loose is won by someone else and that lost by someone else might be won by you.

But, when you have the coins and are kept in the locker, you are well off getting its value raised due to the rising market.

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Quote from: Johnzky on March 17, 2019, 09:11:38 AM

For the value of bitcoin grow meaning the capitalization will increase also

That's the advantage if there's a lot of gambling industry who will accept cryptocurrency(bitcoin) the demand will increase and of course the supply will less and it makes the entire crypto increasing the price. As I have noticed now, there's a lot of gambling sites launching their site and I guess it is the start of raising bitcoin due to mass adoption.

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Quote from: samycoin on March 16, 2019, 02:06:21 AM

It will not affect the bets if your gamble as far as I know even the bitcoin increase the bets to every online casino still remain. So even the price the bitcoin will increase or decrease its still the same price and actually it depends to the site if their change the range of their bets.

Yeah on one point theres bo effect specially for the bets we are putting but what OP. Is asking is about the whole gambling industry and not just for individual bettors

For the value of bitcoin grow meaning the capitalization will increase also

onrise

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Quote from: Stedsm on March 15, 2019, 07:59:12 PM

Quote from: kingpin4321 on March 09, 2019, 04:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

Come on, think.
Did it change in 2017-18 period when BTC was at its peak?
The question should be:
Will an increase in BTC price affect the gamblers?
Because gambling industry will always be in profit due to the house edge and gamblers will need to think on their betting strategies and amounts that they used to gamble with, before.

I think as price is rising mostly people will shift the btc to fiat and as in gambling chances of losing is higher and if btc is lost now so you would end up losing more actually because with the price rising you lost amount also rises and becomes a very expensive bet.

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Quote from: akram143 on March 12, 2019, 06:49:57 PM

The price of the Bitcoin will not depends upon anything so it will not affect anything while it was developed or not but the demand will definitely but the increase of gambling industry will definitely gives the development to Bitcoin by the people getting attracted with gambling.

Well, the market is no doubt influenced by the presence of whales keep no doubt about that. Moreover, the inflow of investment in the Bitcoin space has a positive relationship with the price in long term.

I believe that a rise in bitcoin will not have a very dominant impact on the gambling industry which is itself a big industry but it might be reduce the take on every bet due to a rise in value in terms of your own country’s currency as people do not love to gamble big. The ultimate benefit will be for the person who wins.

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Quote from: theskillzdatklls on March 09, 2019, 04:35:30 PM

In my experiences, crypto price affects the gambling industry less than others. Meanwhile things like media are some of the most affected by price.

That said, positive increases will increase gambling, but just by less than other industries.

I feel the effect goes a bit negative in case a gambler losses some Bitcoin so he/she would take it as a big loss because of rise in price level and so his or her intentions to get involved in more gambling would probably subside.

Winning it on the other hand would probably increase the affinity to play more games. So the overall effect is kind of neutral or may be positive a bit.

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Quote from: whirlcoin on March 14, 2019, 09:47:37 PM

Bitcoin gambling is more popular nowadays so the people are trying to put larger investment and get it back so it will be very good thing for gambling also to develop very easily and more stable also happen when the Bitcoin was developed.

We need an honest algorithm in gambling. Therefore, you will not constantly return your money. Another dude will have to win at another table. Then new Bitcoins will enter and increase the cryptocurrency market. And along with the market will increase the value of Bitcoin.

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Quote from: ShowOff on March 16, 2019, 02:00:37 AM

Agree with you, gambling is no matter with any value of bitcoin because we can buy bitcoin as much as we want. Even price up and down, we still can use money that we usually use in past before pumped or dumped. But maybe when we win, sell it immediately to avoid dump after we get our win.

But when the bitcoin price is down, it's better for us to not playing gambling because if we gamble, we need to understand that we have a chance to get lose and it will not be good for ourselves. But maybe some people can accept if they are lost in gambling and they still playing gambling no matter if bitcoin price is up or down. I think the effect is not too big for people who were still playing gambling because they like to play gambling using bitcoin.

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